#Asphalt Polymeric Modifier Forecast
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Asphalt Additives Market Outlook, Analysis, Report 2023-2030
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Global Asphalt Additives Market size at USD 4.03 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Global Asphalt Additives Market size to grow at a CAGR of 6.49% reaching a value of USD 6.26 billion by 2030. The surging demand for asphalt additives from end use industries serves as the catalyst propelling the growth trajectory of the asphalt additive market. Expanding infrastructural projects and a surge in construction activities, particularly in burgeoning economies, will generate promising avenues for the market's growth. The confluence of escalating industrialization and substantial investments in the construction sector to address both industrial and residential infrastructure needs will amplify the demand for asphalt additives. Manufacturers' heightened emphasis on product innovation is poised to unlock lucrative growth prospects for the asphalt additive market.
Opportunity – Digital innovations
Rapid adoption of technological advancements is a pivotal growth driver for the Global Asphalt Additives Market, as cutting-edge digital solutions revolutionize manufacturing processes, enhance product performance, and ensure environmental sustainability. Smart asphalt formulations leveraging IoT sensors optimize road quality, durability, and maintenance, reducing overall infrastructure costs. Furthermore, data analytics and artificial intelligence streamline supply chain management, ensuring efficient resource utilization. This technological evolution elevates the industry's competitiveness and also aligns it with global sustainability goals, fostering a greener and more resilient infrastructure landscape.
Impact of Escalating Geopolitical Tensions on Global Asphalt Additives Market
In 2024, the Global Asphalt Additives Market faces challenges due to escalating geopolitical tensions. The prolonged Ukraine-Russia war and the ongoing Hamas-Israel war contribute to heightened global instability. The conflicts have a direct impact on the market for asphalt additives, a crucial element in construction. With concerns about oil and bitumen supply routes, particularly in the Middle East, the security of the Red Sea corridor is questioned. The unease is evident as naval deployments are made to safeguard the vital maritime passage. As industry stakeholders grapple with fluctuating oil prices and evolving demand patterns, navigating the complex geopolitical landscape becomes crucial for the Global Asphalt Additives Market.
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Global Asphalt Additives Market
Segmental Coverage
Global Asphalt Additives Market– By Type
Based on type, Global Asphalt Additives Market is divided into Polymerized Asphalt Cement, Novophalt, Multigrade Asphalt Cement, and Polyester Modifier segments. The polymerized asphalt cement segment is the largest type, especially during the initial stages of road construction. Polymerized asphalt cement, like CRS-2P, is frequently added to paving-grade asphalt using mechanical impellers or mixers. The grade is widely used by companies in road maintenance and repair, rejuvenating existing roads. Asia Pacific is projected to lead in polymerized asphalt cement utilization due to numerous infrastructure projects. The compound's increasing significance in enhancing road strength, durability, finishing, and workability is driving global market growth. Diverse grades and pricing options further empower consumers to make tailored product choices.
Global Asphalt Additives Market – By Application
Based on application, Global Asphalt Additives Market is divided into Road Construction, Road Paving, Airport Runway, Parking Lots, and Roofing segments. The road construction segment is the largest application in the Global Asphalt Additives Market. The utilization of asphalt additives such as polymeric modifiers, emulsifiers, chemical modifiers, and rejuvenators proves pivotal in augmenting viscosity and stiffness at elevated temperatures and enhancing road durability. Globally, such infrastructure investments promise to fuel the demand for asphalt additives, driving market growth.
Competitive Landscape
Global Asphalt Additives Market is fiercely competitive. Major companies in the market include Nouryon, Arkema, BASF SE, Arrmaz, Grupo Dynasol, Ingevity, Iterchimica, MCASPHALT, China Petroleum and Chemical Corporation, ATDM Co., Cargill, Inc., and Berkshire Engineering Supplies. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the Global Asphalt Additives Market.
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Polymeric Asphalt Modifiers Market - Future Growth Prospects for the Global Leaders
The latest market report published by Credence Research, Inc. “Global Polymeric Asphalt Modifiers Market: Growth, Future Prospects, and Competitive Analysis, 2022 – 2030. The worldwide polymeric asphalt modifiers marketplace is projected to reach USD 5,981.83 million in sales by 2030, with a compound annual growth rate (CAGR) of 5.26% at some point in the forecast length of 2023-2030.
Polymeric Asphalt Modifiers market is experiencing significant growth as a result of their crucial role in enhancing the performance and durability of asphalt pavements. These modifiers are polymers added to asphalt mixtures to improve properties such as elasticity, flexibility, fatigue resistance, and resistance to rutting and cracking. As infrastructure demands increase and the need for longer-lasting, cost-effective roadways rises, the adoption of polymeric asphalt modifiers becomes integral to achieving sustainable and high-performance road construction.
These modifiers help extend the lifespan of roads, reduce maintenance frequency, and enhance overall road safety. The market is driven by the benefits they offer, including improved road performance under varying weather conditions, heavy traffic loads, and challenging environments. With a growing focus on sustainable construction practices, polymeric asphalt modifiers also contribute to reducing the carbon footprint of road projects. As research and innovation in polymer technology continue, the Polymeric Asphalt Modifiers market is poised to witness sustained growth, catering to the evolving requirements of modern infrastructure development while addressing the challenges of longevity and performance.
Polymeric Asphalt Modifiers Market Major Challenges refer to the significant obstacles faced by this industry in its quest for growth and innovation. One of the primary challenges is the high cost associated with polymeric asphalt modifiers, which often leads to limited adoption among small-scale road construction projects. Moreover, despite their numerous benefits such as improved durability, flexibility, and resistance to rutting and cracking, these modifiers still face skepticism from traditionalists who prefer conventional asphalt materials. Additionally, fluctuating raw material prices pose a challenge for manufacturers in terms of maintaining profitability while delivering consistent quality products. Furthermore, stringent regulations regarding environmental impact drive companies towards developing sustainable alternatives without compromising performance attributes.
List of the prominent players in the Polymeric Asphalt Modifiers Market:
Kraton Corporation
Arkema SA
BASF SE
Sinopec Corp
Evonik Industries AG
Dow Inc.
Browse 221 pages report By Price Range (Low, Medium, High) - Growth, Future Prospects & Competitive Analysis, 2016 – 2030) https://www.credenceresearch.com/report/polymeric-asphalt-modifiers-market
Polymeric Asphalt Modifiers Market Top Report Findings-
Growing Adoption: The market showcases a steady increase in the adoption of polymeric asphalt modifiers due to their ability to improve pavement performance and extend the lifespan of roads.
Infrastructure Development: The demand for polymeric asphalt modifiers is driven by extensive infrastructure development projects, including road rehabilitation, expansion, and construction of new roadways.
Durability Enhancement: Polymeric modifiers enhance the durability of asphalt pavements by improving resistance to cracking, rutting, and other forms of distress, resulting in reduced maintenance requirements.
Temperature Sensitivity: These modifiers effectively address temperature-related challenges by improving the pavement's ability to withstand both high-temperature deformation and low-temperature cracking.
Fatigue Resistance: The incorporation of polymeric modifiers enhances the fatigue resistance of asphalt pavements, making them more resilient to repeated loading from traffic.
Improved Binder Performance: The addition of polymeric modifiers improves the binder's rheological properties, leading to better binder-aggregate adhesion and overall pavement integrity.
Cost Savings: While the upfront cost of using polymeric asphalt modifiers may be higher, the long-term cost savings from reduced maintenance and longer pavement lifespan contribute to their attractiveness.
Sustainability Focus: The market aligns with sustainability goals, as polymeric asphalt modifiers contribute to eco-friendly road construction practices by promoting longer-lasting pavements and reducing the need for frequent repairs.
Why to Buy This Report-
The report provides a qualitative as well as quantitative analysis of the global Polymeric Asphalt Modifiers Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
The report includes information on the competitive landscape, such as how the market's top competitors operate at the global, regional, and country levels.
Major nations in each region with their import/export statistics
The global Polymeric Asphalt Modifiers Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major player analysis, market growth strategies, and key application areas.
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Future of Global Asphalt Polymeric Modifier Market Growth, Size, Trends and Regional Forecast from 2016 to 2022
In this report, the United States Asphalt Polymeric Modifier Market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022.
Geographically, this report splits the United States market into seven regions:
The West
Southwest
The Middle Atlantic
New England
The South
The Midwest
with sales (volume), revenue (value), market share and growth rate of Asphalt Polymeric Modifier in these regions, from 2012 to 2022 (forecast).
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United States Asphalt Polymeric Modifier market competition by top manufacturers/players, with Asphalt Polymeric Modifier sales volume, price, revenue (Million USD) and market share for each manufacturer/player; the top players including:
Akzonobel NV
I. Du Pont De Nemours
Arkema SA
Honeywell International
Evonik Industries
Kraton
Huntsman
Sasol
Ingevity
Arrmaz
DOW Chemical
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into:
SBS
EVA
PE
On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, sales volume, market share and growth rate for each application, including:
Building
Highway
Municipal
Other
Full report with Table of Content: https://www.qyresearchgroups.com/report/united-states-asphalt-polymeric-modifier-market-report-2017-d-1048
Table of Contents -
United States Asphalt Polymeric Modifier Market Report 2017
1 Asphalt Polymeric Modifier Overview
1.1 Product Overview and Scope of Asphalt Polymeric Modifier
1.2 Classification of Asphalt Polymeric Modifier by Product Category
1.2.1 United States Asphalt Polymeric Modifier Market Size (Sales Volume) Comparison by Type (2012-2022)
1.2.2 United States Asphalt Polymeric Modifier Market Size (Sales Volume) Market Share by Type (Product Category) in 2016
1.2.3 SBS
1.2.4 EVA
1.2.5 PE
1.3 United States Asphalt Polymeric Modifier Market by Application/End Users
1.3.1 United States Asphalt Polymeric Modifier Market Size (Consumption) and Market Share Comparison by Application (2012-2022)
1.3.2 Building
1.3.3 Highway
1.3.4 Municipal
1.3.5 Other
1.4 United States Asphalt Polymeric Modifier Market by Region
1.4.1 United States Asphalt Polymeric Modifier Market Size (Value) Comparison by Region (2012-2022)
1.4.2 The West Asphalt Polymeric Modifier Status and Prospect (2012-2022)
1.4.3 Southwest Asphalt Polymeric Modifier Status and Prospect (2012-2022)
1.4.4 The Middle Atlantic Asphalt Polymeric Modifier Status and Prospect (2012-2022)
1.4.5 New England Asphalt Polymeric Modifier Status and Prospect (2012-2022)
1.4.6 The South Asphalt Polymeric Modifier Status and Prospect (2012-2022)
1.4.7 The Midwest Asphalt Polymeric Modifier Status and Prospect (2012-2022)
1.5 United States Market Size (Value and Volume) of Asphalt Polymeric Modifier (2012-2022)
1.5.1 United States Asphalt Polymeric Modifier Sales and Growth Rate (2012-2022)
1.5.2 United States Asphalt Polymeric Modifier Revenue and Growth Rate (2012-2022)
…
7 Asphalt Polymeric Modifier Manufacturing Cost Analysis
7.1 Asphalt Polymeric Modifier Key Raw Materials Analysis
7.1.1 Key Raw Materials
7.1.2 Price Trend of Key Raw Materials
7.1.3 Key Suppliers of Raw Materials
7.1.4 Market Concentration Rate of Raw Materials
7.2 Proportion of Manufacturing Cost Structure
7.2.1 Raw Materials
7.2.2 Labor Cost
7.2.3 Manufacturing Expenses
7.3 Manufacturing Process Analysis of Asphalt Polymeric Modifier
…
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#Asphalt Polymeric Modifier Size#Asphalt Polymeric Modifier Share#Asphalt Polymeric Modifier Trends#Asphalt Polymeric Modifier Growth#Asphalt Polymeric Modifier Forecast
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Asphalt Polymeric Modifier Market Development, Segment by Type, Region, Current Situation Market Size, Market Industry Market Forecast 2030
Summary
The Asphalt Polymeric Modifier Market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.
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The report offers detailed coverage of Asphalt Polymeric Modifier industry and main market trends with impact of coronavirus. The market research includes historical and forecast market data, demand, application details, price trends, and company shares of the leading Asphalt Polymeric Modifier by geography. The report splits the market size, by volume and value, on the basis of application type and geography.
First, this report covers the present status and the future prospects of the global Asphalt Polymeric Modifier market for 2016-2025.
And in this report, we analyze global market from 5 geographies: Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia], Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland], North America[United States, Canada, Mexico], Middle East & Africa[GCC, North Africa, South Africa], South America[Brazil, Argentina, Columbia, Chile, Peru]. At the same time, we classify Asphalt Polymeric Modifier according to the type, application by geography. More importantly, the report includes major countries market based on the type and application. Finally, the report provides detailed profile and data information analysis of leading Asphalt Polymeric Modifier company.
Leading players of Asphalt Polymeric Modifier including: Akzonobel NV E. I. Du Pont De Nemours Arkema SA Honeywell International Evonik Industries Kraton Huntsman Sasol Ingevity Arrmaz DOW Chemical
Asphalt Polymeric Modifier Market split by Type, can be divided into: SBS EVA PE
Asphalt Polymeric Modifier Market split by Application, can be divided into: Building Highway Municipal Others
Asphalt Polymeric Modifier Market Report Scope
Report AttributeDetails
Base year of estimation2021
Historical data2017 – 2020
Forecast period2022 – 2030
Quantitative unitsRevenue in USD million/billion and CAGR from 2022 to 2030
Segmentation
By Type
By Application
By Region/Country
By Type SBS, EVA, PE
By Application Building, Highway, Municipal, Others
Report coverageRevenue forecast, company market share, competitive landscape, growth factors, and trends
Key companies profiledAkzonobel NV, E. I. Du Pont De Nemours, Arkema SA, Honeywell International, Evonik Industries, Kraton, Huntsman, Sasol, Ingevity, Arrmaz, DOW Chemical
Regional scope
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Spain etc.)
Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
South America (Brazil, Argentina and Colombia etc.)
Middle East & Africa (South Africa, UAE and Saudi Arabia etc.)
Table of Contents
Part 1 Market Overview 1.1 Market Definition 1.2 Market Development 1.2.1 Current Situation 1.2.2 Aspects of COVID-19 Impact 1.3 By Type Table Type of Asphalt Polymeric Modifier Figure Global Asphalt Polymeric Modifier Market Share by Type in 2021 1.4 By Application Table Application of Asphalt Polymeric Modifier Figure Global Asphalt Polymeric Modifier Market Share by Application in 2021 1.5 By Region Figure Global Asphalt Polymeric Modifier Market Share by Region in 2021 Figure Asia Asphalt Polymeric Modifier Market Share by Region in 2021
Part 2 Key Companies 2.1 Akzonobel NV 2.1.1 Company Profile Table Akzonobel NV Overview List 2.1.2 Products & Services Overview 2.1.3 Sales Data List Table Asphalt Polymeric Modifier Business Operation of Akzonobel NV (Sales Revenue, Sales Volume, Price, Cost, Gross Margin) 2.2 E. I. Du Pont De Nemours 2.3 Arkema SA 2.4 Honeywell International 2.5 Evonik Industries 2.6 Kraton 2.7 Huntsman 2.8 Sasol 2.9 Ingevity 2.10 Arrmaz 2.11 DOW Chemical
Part 3 Global Market Status and Future Forecast 3.1 Global Market by Region Table Global Asphalt Polymeric Modifier Market by Region, 2017 – 2020 (Million USD) Figure Global Asphalt Polymeric Modifier Market Share by Region in 2021 (Million USD) Table Global Asphalt Polymeric Modifier Market by Region, 2017 – 2020 (Volume) Figure Global Asphalt Polymeric Modifier Market Share by Region in 2021 (Volume) Table Price List by Region, 2017 – 2020 3.2 Global Market by Company Table Global Asphalt Polymeric Modifier Market by Company, 2017 – 2020 (Million USD) Figure Global Asphalt Polymeric Modifier Market Share by Company in 2021 (Million USD) Table Global Asphalt Polymeric Modifier Market by Company, 2017 – 2020 (Volume) Figure Global Asphalt Polymeric Modifier Market Share by Company in 2021 (Volume) Table Price List by Company, 2017 – 2020 3.3 Global Market by Type Table Global Asphalt Polymeric Modifier Market by Type, 2017 – 2020 (Million USD) Figure Global Asphalt Polymeric Modifier Market Share by Type in 2021 (Million USD) Table Global Asphalt Polymeric Modifier Market by Type, 2017 – 2020 (Volume) Figure Global Asphalt Polymeric Modifier Market Share by Type in 2021 (Volume) Table Price List by Type, 2017 – 2020 3.4 Global Market by Application Table Global Asphalt Polymeric Modifier Market by Application, 2017 – 2020 (Million USD) Figure Global Asphalt Polymeric Modifier Market Share by Application in 2021 (Million USD) Table Global Asphalt Polymeric Modifier Market by Application, 2017 – 2020 (Volume) Figure Global Asphalt Polymeric Modifier Market Share by Application in 2021 (Volume) Table Price List by Application, 2017 – 2020 3.5 Global Market by Forecast Figure Global Asphalt Polymeric Modifier Market Forecast, 2022-2030 (Million USD) Figure Global Asphalt Polymeric Modifier Market Forecast, 2022-2030 (Volume)
Part 9 Market Features 9.1 Product Features 9.2 Price Features 9.3 Channel Features 9.4 Purchasing Features
Part 10 Investment Opportunity 10.1 Regional Investment Opportunity 10.2 Industry Investment Opportunity
PART 11 Coronavirus Impact 11.1 Impact on Industry Upstream 11.2 Impact on Industry Downstream 11.3 Impact on Industry Channels 11.4 Impact on Industry Competition 11.5 Impact on Industry Obtain Employment
Part 12 Conclusion
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Asphalt Additive Market 2021-2026 | Top Companies are Nouryon, DowDuPont, Arkema SA, Honeywell International Inc., Evonik Industries, Huntsman Corporation, Kraton Corporation, Ingevity Corporation, and BASF SE
Asphalt Additive Market 2021-2026 | Top Companies are Nouryon, DowDuPont, Arkema SA, Honeywell International Inc., Evonik Industries, Huntsman Corporation, Kraton Corporation, Ingevity Corporation, and BASF SE
Asphalt Additive Market The report “Asphalt Additive Market by Type (Polymeric Modifiers, Anti-Strip & Adhesion Promoters, Emulsifiers, Chemical Modifiers, Rejuvenators, Fibers, Flux Oil, Colored Asphalt), Application, Technology and Region – Global Forecast to 2026″ The asphalt additive market is projected to grow from USD 3.4 billion in 2021 to USD 4.7 billion by 2026, at a CAGR of 6.8% from…
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The report "Asphalt Additive Market by Type (Polymeric Modifiers, Anti-Strip & Adhesion Promoters, Emulsifiers, Chemical Modifiers, Rejuvenators, Fibers, Flux Oil, Colored Asphalt), Application, Technology and Region – Global Forecast to 2026" The asphalt additive market is projected to grow from USD 3.4 billion in 2021 to USD 4.7 billion by 2026, at a CAGR of 6.8% from 2021 to 2026. Increase in road construction projects along with the growing usage of asphalt additives in roofing application are some of the major key factors driving the growth of the asphalt additive market across the globe.
Based on application, the roofing segment is expected to lead the asphalt additives market in coming years. Roofs are subject to environmental damage due to excess heat, cold, or rain. The addition of additives to asphalt prevents this damage. Chemical, vegetable oil, or petroleum-based additives are added to asphalt to improve the functionality and viscosity of asphalt, while polymer-based additives are used to improve its Functionality. This creates the demand for asphalt additives in the future.
The Asia-Pacific region was the largest market for asphalt additives in 2020, owing to the increasing demand for asphalt additives products in developing economies, such as India and China. China is the leading consumer of asphalt additives products in the Asia-Pacific region. The considerable growth and innovation, along with industry consolidations, is expected to drive the growth of the Asia-Pacific asphalt additives market.
Nouryon (Netherlands), DowDuPont (US), Arkema SA (France), Honeywell International Inc. (US), Evonik Industries (Germany), Huntsman Corporation (US), Kraton Corporation (US), Ingevity Corporation(US), and BASF SE (Germany) are some of the leading players operating in the asphalt additive market.
#Asphalt Additives Market#Sales of Asphalt Additives#Asphalt Additives Demand#Asphalt Additives Manufacturers#Anti-strip Asphalt Additives Demand#Bitumen Emulsifiers Asphalt Additives Sales#Asphalt Cement Additives Demand#Cold Mix Asphalt Additives Market#COVID 19 Impact on Asphalt Additives Market#Asphalt Additives Market Analysis#Asphalt Additives Market Size#Asphalt Additives Market Share#Asphalt Additives Market Trends#Asphalt Additives Market Growth#Asphalt Additives Market Research#Asphalt Additives Market Revenue#Global Asphalt Additives Market
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Asphalt Additives Market 2022 – Industry Trends, Drivers, Constraints, Size, Share And Outlook To 2031 || Nouryon, Sasol Limited, Sinopec Corporation

Asphalt Additives Global Market Report 2022 by The Business Research Company is the most comprehensive report available on the market, being wide-ranging both in terms of chronology and geography. It covers the historic period – 2016-2021, and the forecast period – 2022-2026, with additional forecasts for 2026-2031. The report helps gain a truly global perspective as it covers 60 geographies, focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. TBRC’s market report includes a chapter on the COVID-19 impact on the asphalt additives industry, which gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market and how companies can strategize to bounce back from it. With updated market numbers according to the effects of the coronavirus, the report provides the most accurate expected asphalt additives market growth numbers from 2022-2031. Request A Sample Of The Report: https://www.thebusinessresearchcompany.com/sample.aspx?id=6516&type=smp The global asphalt additives market size is expected to grow from $3.37 billion in 2021 to $3.60 billion in 2022 at a compound annual growth rate (CAGR) of 6.8%. The asphalt additive market share is expected to grow to $5.02 billion in 2026 at a CAGR of 8.7%. View More On The Report: https://www.thebusinessresearchcompany.com/report/asphalt-additives-global-market-report The Asphalt Additives Global Market Report 2022-31 by The Business Research Company evaluates asphalt additives market size, growth rate, drivers, asphalt additives industry trends, and major companies. The asphalt additives market segments in the report are: 1) By Type: Polymeric Modifiers, Anti-Strip and Adhesion Promoters, Emulsifiers, Chemical Modifiers, Rejuvenators, Fibers, Flux Oil, Colored Asphalt 2) By Technology: Hot Mix, Cold Mix, Warm Mix 3) By Application: Road Construction, Road Paving, Airport Runway, Parking Lots, Roofing The table of contents in TBRC’s asphalt additives market report includes: 1. Executive Summary 2. Asphalt Additives Market Characteristics 3. Asphalt Additives Market Trends And Strategies 4. Impact Of COVID-19 On Asphalt Additives 5. Asphalt Additives Market Size And Growth ……… 28. Key Mergers And Acquisitions In The Asphalt Additives Market 29. Asphalt Additives Market Future Outlook and Potential Analysis 30. Appendix Top 5 Major Key Players Are: Arkema SA Arrmaz BASF SE Evonik Industries Huntsman Corporation About The Business Research Company: The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology. It has offices in the UK, the US and India and a network of trained researchers in 28+ countries globally. Get A Quick Glimpse Of Our Services Here: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ Contact Information: The Business Research Company Europe: +44 207 1930 708 Asia: +91 88972 63534 Americas: +1 315 623 0293 Email: [email protected] Follow us on LinkedIn: https://in.linkedin.com/company/the-business-research-company Follow us on Twitter: https://twitter.com/tbrc_info Check out our Blog: http://blog.tbrc.info/
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Asphalt Modifiers Market Size Forecast to Reach $4.8 Billion by 2026
Asphalt modifiers market size is forecast to reach US$4.8 billion by 2026, after growing at a CAGR of 5.7% during 2021-2026. This growth is attributed to the accelerating demand of adhesion promoters, flux oil, crumb rubber, polyurethane resin, and phenolic resin based asphalt modifiers from the boosting infrastructure sector due to its rigid properties. In addition, the increased use of asphalt modifiers in roofing applications is also expected to drive the need for asphalt modifiers during the forecast period. Increased use of the bio asphalt mixture and concrete as a replacement, however, is expected to impede the development of the demand for adhesion promoters, flux oil, crumb rubber, polyurethane resin, and phenolic resin based asphalt modifiers. Similarly, the production and commercialization of environmentally friendly recyclable asphalt could provide market players with a lucrative opportunity.
COVID-19 Impact
Supply lines were disrupted, and building and construction projects were delayed all across the world as a result of the COVID-19 pandemic. Most countries enacted stringent lockdowns and curfews to prevent the spread of the coronavirus. Due to a scarcity of raw materials, labor, and government regulations that compelled ongoing projects to be suspended, this resulted in an economic depression, with construction being one of the hardest-hit sectors. While, in the third quarter of 2020, several local governments took steps to restart road, highway, and building construction projects. After April 2020, Germany's Federal Ministry of Transport and Digital Infrastructure (BMVI) have resumed building and road construction. Since the second half of 2020, countries such as Romania and India have resumed highway and road building. Although other infrastructure sectors were hit hard by the pandemic, the highway sector had a stellar year in 2020-21. A total of 13,298 km of highways were constructed in the fiscal year, compared to around 10,240 km in FY20, a 30 percent rise year over year and a speed of 36.4 km/day. As a result, when compared to the previous year, the construction sector is projected to expand rapidly in 2021.
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Asphalt Modifiers Market Segment Analysis – By Asphalt Type
The warm mix asphalt segment held a significant share in the asphalt modifiers market in 2020 and is growing at a CAGR of 6.1% during 2021-2026. Due to growing concern about environmental issues such as global warming and carbon footprint, the asphalt industry's incentive to minimize greenhouse gas emissions has increased. This has prompted the development of Warm Mix Asphalt (WMA) and related technologies, which aim to reduce greenhouse gas emissions by lowering asphalt mix mixing and compaction temperatures. WMA has grown in favour as a result of the environmental benefits it provides without sacrificing the asphalt mix's qualities, performance, or quality. WMA is made at much lower temperatures (just around 100°C), resulting in decreased energy usage, fewer emissions, reduced ageing, lower mixing and compaction temperatures, cold weather paving, and improved mix workability. The introduction of chemicals into WMA is responsible for the latter of these advantages. In comparison to traditional Hot Mix Asphalt (HMA) processes, WMA perform better, owing to which it is seeing a significant increase in its demand.
Asphalt Modifiers Market Segment Analysis – By Modifier Type
The polymeric modifier segment held the largest share in the asphalt modifiers market in 2020 and is growing at a CAGR of 6.1% during 2021-2026. To increase the flexibility and longevity of asphalt pavements, polymeric modifiers are used across the world. They are simple to use, and the raw materials used to manufacture them are readily available, making them the most common source of asphalt additives in the world. Polymeric modifiers are used to improve the high temperature (rutting) properties of modified materials. Low-density polyethylene (LDPE) and ethylene-vinyl acetate (EVA) are examples of polymeric modifiers used in asphalt modification. Although polymer modification seems to be the best solution to improve asphalt properties, these systems present three main problems such as poor asphalt polymer compatibility (which influences the stability of the system), higher viscosities during asphalt processing and application, and higher cost, which is restricting the market growth.
Asphalt Modifiers Market Segment Analysis – By Application
The road construction segment held the largest share in the asphalt modifiers market in 2020 and is growing at a CAGR of 8.6% during 2021-2026. To improve the durability of road construction, modifiers such as adhesion promoters, flux oil, crumb rubber, polyurethane resin, and phenolic resin are used to increase resistance to pavement discomfort, such as thermal cracking, rutting, stripping, and more, thus prolonging the service life. The global market for asphalt modifiers has experienced above-normal growth in recent years. The incremental improvements in the consumption of mobility and transport are expected to be experienced over the coming decades. It is projected that annual air traffic will reach 80 trillion passenger-kilometers by 2030. Global volumes of freight are likely to rise by 70%, and an extra 1.2 billion vehicles are predicted to be on the road by 2050. Therefore, the enhancement of the road transport network and the upgrading of highway maintenance operations are projected to take place during the forecast timeframe to satisfy the additional demand, thus increasing the demand for asphalt modifiers.
Asphalt Modifiers Market Segment Analysis – By Geography
Asia-Pacific region held the largest share of more than 40% in the asphalt modifiers market in 2020 and is growing at a CAGR of 6.4% during 2021-2026, because of the central government's drive for infrastructure spending as a way of maintaining economic development; the road and highway construction industry has grown rapidly. The Asia-Pacific government's substantial expansion of road infrastructure to withstand the expanding manufacturing and service sectors has contributed to significant growth in the road construction sector in recent years. In February 2019, In Himachal Pradesh, the Union Minister for Road Transport and Highways laid the foundation stones for seven National Highway projects worth Rs 4,419 crore (US$627.5 million). In July 2020, the government launched an Rs10000 crore (US$1,350 million) trans-Haryana project, which is a six-lane 304-km project from Ambala to Ismailabad to Kotputali. It is a greenfield project and is expected to be completed by December 2022. Several new road projects are being planned in China’s Yunnan Province and Guizhou Province. A new expressway will connect Chengjiang and Huaning, featuring a design speed of 100km/h. The 63.3km expressway project will cost an estimated US$1.86 billion. Thus, it is expected that such investment and growth will drive the demand for asphalt modifiers in the Asia-Pacific region.
Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=18472
Asphalt Modifiers Market Drivers
Growing Road Network Construction Projects in Developing Countries
In the developing region, road building and growth activities are projected to increase significantly. The demand for adhesion promoters, flux oil, crumb rubber, polyurethane resin, and phenolic resin based asphalt additives in these nations is projected to be driven by increasing road and highway building activities. The increase in expenditure on infrastructure in various countries can be attributed to the increasing construction of roads and highways for improved transportation and enhanced connectivity between important economic centers in these countries. For instance, according to India Brand Equity Foundation, the infrastructure sector has become one of the major focus areas for the Indian government. In the Union Budget 2020-21, the Indian government announced US$13.1 billion for road and highway construction. In March 2021, the project to rebuild an important road stretch has been awarded in Spain. The package of works is worth €244 million (US$293.8 million) and is for a 70km section of the A4 highway. In May 2021, Brazil announced a major new highway deal. Improvements to the route are expected to total US$1.42 billion. It is estimated that new road projects will strengthen the road network in both urban and rural areas, which would fuel the demand for asphalt modifiers.
Increasing Demand of Asphalt Additives for Roofing Applications
Asphalt modifiers based on adhesion promoters, flux oil, crumb rubber, polyurethane resin, and phenolic resin are mainly used for waterproofing in roofing applications. It's also used in asphalt-saturated felts, roll roofing, and shingles as a saturate. Asphalt shingles are one of the least expensive roofing applications and are witnessing increased demand from the residential as well as commercial sector. In the UK government’s strategic plan 2018/19 – 2022/23, the government aims to deliver 300 homes, begin construction on 1,000 town center apartments, and launch phase three at Northstowe by 2022/23. By 2030, 40 hospitals will be constructed as part of a £3.7 billion (US44.7 billion) package, according to the European government. In addition, 20 hospitals will receive a share of £850 million (US$1.1 billion) to update obsolete facilities and equipment, with enabling work already underway at many sites. Increasing government investments for the construction and renovation of the residential and commercial sectors is expected to driving the demand for building materials. And as the market for building materials is increasing in various regions, the use of asphalt in these materials is expected to grow. As a result, demand for asphalt additives is expected to grow as these extend the life and longevity of asphalt in roofing applications.
Asphalt Modifiers Market Challenges
Over-Use of Asphalt Modifiers
Recent issues of over-use or misuse of some of these new chemistries have surprised the marketplace and produced many exciting and beneficial chemistries with caution and cynicism. Today, it is difficult for asphalt consumers needing assistance with chemical additives to select between distributor commitments and industry rumors of early road deficiencies that could be more due to the absence of discipline in the use of one or more of the multiple chemistries of modifiers. Thus, the use of asphalt modifiers, extensors, and diluents has greatly magnified the difficulty of designing a cost-effective and efficient formulation for a paving or roofing application, further compounding the complexities of handling changing asphalt consistency also pose a major problem for the asphalt modifiers industry.
Asphalt Modifiers Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Asphalt Modifiers Market. Major players in the Asphalt Modifiers Market are Arrmaz, Arkema SA, BASF Corporation, Honeywell International Inc., Huntsman Corporation, Kao Corporation, Ingevity Corporation, Kraton Corporation, Nouryon, Dupont De Nemours Inc., and Sasol Limited.
Acquisitions/Technology Launches
In February 2021, NEWTLAC 5000, a patented asphalt modifier made from recycled PET materials (waste PET), was developed by Kao Corporation. Although traditional asphalt modifiers increase pavement durability, NEWTLAC 5000's durability is many times greater, resulting in less microplastic output.
Key Takeaways
Asia-Pacific dominates the asphalt modifiers market, owing to the increasing road construction activities in APAC countries. For instance, road work worth Rs. 30000 crore (US$4.0 billion) is under construction in Bihar, India. A total of Rs. 4600 crore (US$621.8 million) has been set aside as reimbursement for land acquisitions.
During the forecast period, high traffic volume and heavier loads on roadways, deferred infrastructure maintenance, emphasis on meeting super-save design specifications, enhanced pavement work-life, and decreased MRO cost benefits are expected to drive market demand.
Future market opportunities are expected to include rising demand for HMA (Hot Mix Asphalt), the rising popularity of reclaimed asphalt pavement (RAP), production of bio-renewable modifiers, advancement of hot mix asphalt technologies, and research into using nanotechnology in asphalt modification (nano-clay).
To promote ride-sharing or car-pooling, highways will need to be gradually retrofitted or expanded with lanes for high-occupancy vehicles. The market for road and pavement construction is expected to be driven by this development, in turn, fueling the demand for asphalt modifiers.
The market growth is likely to be impeded by high initial costs for the use of modified asphalt cement and occupational health hazards concerning asphalt.
Related Reports
A.Specialty Concrete Market
https://www.industryarc.com/Report/18472/specialty-concrete-market-research-report-analysis.html
B.Concrete Fiber Market
https://www.industryarc.com/Report/15565/concrete-fiber-market.html
For more Chemicals and Materials Market reports, please click here
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Asphalt Modifiers Market Size Forecast to Reach $4.8 Billion by 2026
Asphalt modifiers market size is forecast to reach US$4.8 billion by 2026, after growing at a CAGR of 5.7% during 2021-2026. This growth is attributed to the accelerating demand of adhesion promoters, flux oil, crumb rubber, polyurethane resin, and phenolic resin based asphalt modifiers from the boosting infrastructure sector due to its rigid properties. In addition, the increased use of asphalt modifiers in roofing applications is also expected to drive the need for asphalt modifiers during the forecast period. Increased use of the bio asphalt mixture and concrete as a replacement, however, is expected to impede the development of the demand for adhesion promoters, flux oil, crumb rubber, polyurethane resin, and phenolic resin based asphalt modifiers. Similarly, the production and commercialization of environmentally friendly recyclable asphalt could provide market players with a lucrative opportunity.
COVID-19 Impact
Supply lines were disrupted, and building and construction projects were delayed all across the world as a result of the COVID-19 pandemic. Most countries enacted stringent lockdowns and curfews to prevent the spread of the coronavirus. Due to a scarcity of raw materials, labor, and government regulations that compelled ongoing projects to be suspended, this resulted in an economic depression, with construction being one of the hardest-hit sectors. While, in the third quarter of 2020, several local governments took steps to restart road, highway, and building construction projects. After April 2020, Germany's Federal Ministry of Transport and Digital Infrastructure (BMVI) have resumed building and road construction. Since the second half of 2020, countries such as Romania and India have resumed highway and road building. Although other infrastructure sectors were hit hard by the pandemic, the highway sector had a stellar year in 2020-21. A total of 13,298 km of highways were constructed in the fiscal year, compared to around 10,240 km in FY20, a 30 percent rise year over year and a speed of 36.4 km/day. As a result, when compared to the previous year, the construction sector is projected to expand rapidly in 2021.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=18472
Report Price: $ 4500 (Single User License)
Asphalt Modifiers Market Segment Analysis – By Asphalt Type
The warm mix asphalt segment held a significant share in the asphalt modifiers market in 2020 and is growing at a CAGR of 6.1% during 2021-2026. Due to growing concern about environmental issues such as global warming and carbon footprint, the asphalt industry's incentive to minimize greenhouse gas emissions has increased. This has prompted the development of Warm Mix Asphalt (WMA) and related technologies, which aim to reduce greenhouse gas emissions by lowering asphalt mix mixing and compaction temperatures. WMA has grown in favour as a result of the environmental benefits it provides without sacrificing the asphalt mix's qualities, performance, or quality. WMA is made at much lower temperatures (just around 100°C), resulting in decreased energy usage, fewer emissions, reduced ageing, lower mixing and compaction temperatures, cold weather paving, and improved mix workability. The introduction of chemicals into WMA is responsible for the latter of these advantages. In comparison to traditional Hot Mix Asphalt (HMA) processes, WMA perform better, owing to which it is seeing a significant increase in its demand.
Asphalt Modifiers Market Segment Analysis – By Modifier Type
The polymeric modifier segment held the largest share in the asphalt modifiers market in 2020 and is growing at a CAGR of 6.1% during 2021-2026. To increase the flexibility and longevity of asphalt pavements, polymeric modifiers are used across the world. They are simple to use, and the raw materials used to manufacture them are readily available, making them the most common source of asphalt additives in the world. Polymeric modifiers are used to improve the high temperature (rutting) properties of modified materials. Low-density polyethylene (LDPE) and ethylene-vinyl acetate (EVA) are examples of polymeric modifiers used in asphalt modification. Although polymer modification seems to be the best solution to improve asphalt properties, these systems present three main problems such as poor asphalt polymer compatibility (which influences the stability of the system), higher viscosities during asphalt processing and application, and higher cost, which is restricting the market growth.
Asphalt Modifiers Market Segment Analysis – By Application
The road construction segment held the largest share in the asphalt modifiers market in 2020 and is growing at a CAGR of 8.6% during 2021-2026. To improve the durability of road construction, modifiers such as adhesion promoters, flux oil, crumb rubber, polyurethane resin, and phenolic resin are used to increase resistance to pavement discomfort, such as thermal cracking, rutting, stripping, and more, thus prolonging the service life. The global market for asphalt modifiers has experienced above-normal growth in recent years. The incremental improvements in the consumption of mobility and transport are expected to be experienced over the coming decades. It is projected that annual air traffic will reach 80 trillion passenger-kilometers by 2030. Global volumes of freight are likely to rise by 70%, and an extra 1.2 billion vehicles are predicted to be on the road by 2050. Therefore, the enhancement of the road transport network and the upgrading of highway maintenance operations are projected to take place during the forecast timeframe to satisfy the additional demand, thus increasing the demand for asphalt modifiers.
Asphalt Modifiers Market Segment Analysis – By Geography
Asia-Pacific region held the largest share of more than 40% in the asphalt modifiers market in 2020 and is growing at a CAGR of 6.4% during 2021-2026, because of the central government's drive for infrastructure spending as a way of maintaining economic development; the road and highway construction industry has grown rapidly. The Asia-Pacific government's substantial expansion of road infrastructure to withstand the expanding manufacturing and service sectors has contributed to significant growth in the road construction sector in recent years. In February 2019, In Himachal Pradesh, the Union Minister for Road Transport and Highways laid the foundation stones for seven National Highway projects worth Rs 4,419 crore (US$627.5 million). In July 2020, the government launched an Rs10000 crore (US$1,350 million) trans-Haryana project, which is a six-lane 304-km project from Ambala to Ismailabad to Kotputali. It is a greenfield project and is expected to be completed by December 2022. Several new road projects are being planned in China’s Yunnan Province and Guizhou Province. A new expressway will connect Chengjiang and Huaning, featuring a design speed of 100km/h. The 63.3km expressway project will cost an estimated US$1.86 billion. Thus, it is expected that such investment and growth will drive the demand for asphalt modifiers in the Asia-Pacific region.
Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=18472
Asphalt Modifiers Market Drivers
Growing Road Network Construction Projects in Developing Countries
In the developing region, road building and growth activities are projected to increase significantly. The demand for adhesion promoters, flux oil, crumb rubber, polyurethane resin, and phenolic resin based asphalt additives in these nations is projected to be driven by increasing road and highway building activities. The increase in expenditure on infrastructure in various countries can be attributed to the increasing construction of roads and highways for improved transportation and enhanced connectivity between important economic centers in these countries. For instance, according to India Brand Equity Foundation, the infrastructure sector has become one of the major focus areas for the Indian government. In the Union Budget 2020-21, the Indian government announced US$13.1 billion for road and highway construction. In March 2021, the project to rebuild an important road stretch has been awarded in Spain. The package of works is worth €244 million (US$293.8 million) and is for a 70km section of the A4 highway. In May 2021, Brazil announced a major new highway deal. Improvements to the route are expected to total US$1.42 billion. It is estimated that new road projects will strengthen the road network in both urban and rural areas, which would fuel the demand for asphalt modifiers.
Increasing Demand of Asphalt Additives for Roofing Applications
Asphalt modifiers based on adhesion promoters, flux oil, crumb rubber, polyurethane resin, and phenolic resin are mainly used for waterproofing in roofing applications. It's also used in asphalt-saturated felts, roll roofing, and shingles as a saturate. Asphalt shingles are one of the least expensive roofing applications and are witnessing increased demand from the residential as well as commercial sector. In the UK government’s strategic plan 2018/19 – 2022/23, the government aims to deliver 300 homes, begin construction on 1,000 town center apartments, and launch phase three at Northstowe by 2022/23. By 2030, 40 hospitals will be constructed as part of a £3.7 billion (US44.7 billion) package, according to the European government. In addition, 20 hospitals will receive a share of £850 million (US$1.1 billion) to update obsolete facilities and equipment, with enabling work already underway at many sites. Increasing government investments for the construction and renovation of the residential and commercial sectors is expected to driving the demand for building materials. And as the market for building materials is increasing in various regions, the use of asphalt in these materials is expected to grow. As a result, demand for asphalt additives is expected to grow as these extend the life and longevity of asphalt in roofing applications.
Asphalt Modifiers Market Challenges
Over-Use of Asphalt Modifiers
Recent issues of over-use or misuse of some of these new chemistries have surprised the marketplace and produced many exciting and beneficial chemistries with caution and cynicism. Today, it is difficult for asphalt consumers needing assistance with chemical additives to select between distributor commitments and industry rumors of early road deficiencies that could be more due to the absence of discipline in the use of one or more of the multiple chemistries of modifiers. Thus, the use of asphalt modifiers, extensors, and diluents has greatly magnified the difficulty of designing a cost-effective and efficient formulation for a paving or roofing application, further compounding the complexities of handling changing asphalt consistency also pose a major problem for the asphalt modifiers industry.
Asphalt Modifiers Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Asphalt Modifiers Market. Major players in the Asphalt Modifiers Market are Arrmaz, Arkema SA, BASF Corporation, Honeywell International Inc., Huntsman Corporation, Kao Corporation, Ingevity Corporation, Kraton Corporation, Nouryon, Dupont De Nemours Inc., and Sasol Limited.
Acquisitions/Technology Launches
In February 2021, NEWTLAC 5000, a patented asphalt modifier made from recycled PET materials (waste PET), was developed by Kao Corporation. Although traditional asphalt modifiers increase pavement durability, NEWTLAC 5000's durability is many times greater, resulting in less microplastic output.
Key Takeaways
Asia-Pacific dominates the asphalt modifiers market, owing to the increasing road construction activities in APAC countries. For instance, road work worth Rs. 30000 crore (US$4.0 billion) is under construction in Bihar, India. A total of Rs. 4600 crore (US$621.8 million) has been set aside as reimbursement for land acquisitions.
During the forecast period, high traffic volume and heavier loads on roadways, deferred infrastructure maintenance, emphasis on meeting super-save design specifications, enhanced pavement work-life, and decreased MRO cost benefits are expected to drive market demand.
Future market opportunities are expected to include rising demand for HMA (Hot Mix Asphalt), the rising popularity of reclaimed asphalt pavement (RAP), production of bio-renewable modifiers, advancement of hot mix asphalt technologies, and research into using nanotechnology in asphalt modification (nano-clay).
To promote ride-sharing or car-pooling, highways will need to be gradually retrofitted or expanded with lanes for high-occupancy vehicles. The market for road and pavement construction is expected to be driven by this development, in turn, fueling the demand for asphalt modifiers.
The market growth is likely to be impeded by high initial costs for the use of modified asphalt cement and occupational health hazards concerning asphalt.
Related Reports
A.Specialty Concrete Market
https://www.industryarc.com/Report/18472/specialty-concrete-market-research-report-analysis.html
B.Concrete Fiber Market
https://www.industryarc.com/Report/15565/concrete-fiber-market.html
For more Chemicals and Materials Market reports, please click here
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Text
Asphalt Modifiers Market Size Forecast to Reach $4.8 Billion by 2026
Asphalt modifiers market size is forecast to reach US$4.8 billion by 2026, after growing at a CAGR of 5.7% during 2021-2026. This growth is attributed to the accelerating demand of adhesion promoters, flux oil, crumb rubber, polyurethane resin, and phenolic resin based asphalt modifiers from the boosting infrastructure sector due to its rigid properties. In addition, the increased use of asphalt modifiers in roofing applications is also expected to drive the need for asphalt modifiers during the forecast period. Increased use of the bio asphalt mixture and concrete as a replacement, however, is expected to impede the development of the demand for adhesion promoters, flux oil, crumb rubber, polyurethane resin, and phenolic resin based asphalt modifiers. Similarly, the production and commercialization of environmentally friendly recyclable asphalt could provide market players with a lucrative opportunity.
COVID-19 Impact
Supply lines were disrupted, and building and construction projects were delayed all across the world as a result of the COVID-19 pandemic. Most countries enacted stringent lockdowns and curfews to prevent the spread of the coronavirus. Due to a scarcity of raw materials, labor, and government regulations that compelled ongoing projects to be suspended, this resulted in an economic depression, with construction being one of the hardest-hit sectors. While, in the third quarter of 2020, several local governments took steps to restart road, highway, and building construction projects. After April 2020, Germany's Federal Ministry of Transport and Digital Infrastructure (BMVI) have resumed building and road construction. Since the second half of 2020, countries such as Romania and India have resumed highway and road building. Although other infrastructure sectors were hit hard by the pandemic, the highway sector had a stellar year in 2020-21. A total of 13,298 km of highways were constructed in the fiscal year, compared to around 10,240 km in FY20, a 30 percent rise year over year and a speed of 36.4 km/day. As a result, when compared to the previous year, the construction sector is projected to expand rapidly in 2021.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=18472
Report Price: $ 4500 (Single User License)
Asphalt Modifiers Market Segment Analysis – By Asphalt Type
The warm mix asphalt segment held a significant share in the asphalt modifiers market in 2020 and is growing at a CAGR of 6.1% during 2021-2026. Due to growing concern about environmental issues such as global warming and carbon footprint, the asphalt industry's incentive to minimize greenhouse gas emissions has increased. This has prompted the development of Warm Mix Asphalt (WMA) and related technologies, which aim to reduce greenhouse gas emissions by lowering asphalt mix mixing and compaction temperatures. WMA has grown in favour as a result of the environmental benefits it provides without sacrificing the asphalt mix's qualities, performance, or quality. WMA is made at much lower temperatures (just around 100°C), resulting in decreased energy usage, fewer emissions, reduced ageing, lower mixing and compaction temperatures, cold weather paving, and improved mix workability. The introduction of chemicals into WMA is responsible for the latter of these advantages. In comparison to traditional Hot Mix Asphalt (HMA) processes, WMA perform better, owing to which it is seeing a significant increase in its demand.
Asphalt Modifiers Market Segment Analysis – By Modifier Type
The polymeric modifier segment held the largest share in the asphalt modifiers market in 2020 and is growing at a CAGR of 6.1% during 2021-2026. To increase the flexibility and longevity of asphalt pavements, polymeric modifiers are used across the world. They are simple to use, and the raw materials used to manufacture them are readily available, making them the most common source of asphalt additives in the world. Polymeric modifiers are used to improve the high temperature (rutting) properties of modified materials. Low-density polyethylene (LDPE) and ethylene-vinyl acetate (EVA) are examples of polymeric modifiers used in asphalt modification. Although polymer modification seems to be the best solution to improve asphalt properties, these systems present three main problems such as poor asphalt polymer compatibility (which influences the stability of the system), higher viscosities during asphalt processing and application, and higher cost, which is restricting the market growth.
Asphalt Modifiers Market Segment Analysis – By Application
The road construction segment held the largest share in the asphalt modifiers market in 2020 and is growing at a CAGR of 8.6% during 2021-2026. To improve the durability of road construction, modifiers such as adhesion promoters, flux oil, crumb rubber, polyurethane resin, and phenolic resin are used to increase resistance to pavement discomfort, such as thermal cracking, rutting, stripping, and more, thus prolonging the service life. The global market for asphalt modifiers has experienced above-normal growth in recent years. The incremental improvements in the consumption of mobility and transport are expected to be experienced over the coming decades. It is projected that annual air traffic will reach 80 trillion passenger-kilometers by 2030. Global volumes of freight are likely to rise by 70%, and an extra 1.2 billion vehicles are predicted to be on the road by 2050. Therefore, the enhancement of the road transport network and the upgrading of highway maintenance operations are projected to take place during the forecast timeframe to satisfy the additional demand, thus increasing the demand for asphalt modifiers.
Asphalt Modifiers Market Segment Analysis – By Geography
Asia-Pacific region held the largest share of more than 40% in the asphalt modifiers market in 2020 and is growing at a CAGR of 6.4% during 2021-2026, because of the central government's drive for infrastructure spending as a way of maintaining economic development; the road and highway construction industry has grown rapidly. The Asia-Pacific government's substantial expansion of road infrastructure to withstand the expanding manufacturing and service sectors has contributed to significant growth in the road construction sector in recent years. In February 2019, In Himachal Pradesh, the Union Minister for Road Transport and Highways laid the foundation stones for seven National Highway projects worth Rs 4,419 crore (US$627.5 million). In July 2020, the government launched an Rs10000 crore (US$1,350 million) trans-Haryana project, which is a six-lane 304-km project from Ambala to Ismailabad to Kotputali. It is a greenfield project and is expected to be completed by December 2022. Several new road projects are being planned in China’s Yunnan Province and Guizhou Province. A new expressway will connect Chengjiang and Huaning, featuring a design speed of 100km/h. The 63.3km expressway project will cost an estimated US$1.86 billion. Thus, it is expected that such investment and growth will drive the demand for asphalt modifiers in the Asia-Pacific region.
Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=18472
Asphalt Modifiers Market Drivers
Growing Road Network Construction Projects in Developing Countries
In the developing region, road building and growth activities are projected to increase significantly. The demand for adhesion promoters, flux oil, crumb rubber, polyurethane resin, and phenolic resin based asphalt additives in these nations is projected to be driven by increasing road and highway building activities. The increase in expenditure on infrastructure in various countries can be attributed to the increasing construction of roads and highways for improved transportation and enhanced connectivity between important economic centers in these countries. For instance, according to India Brand Equity Foundation, the infrastructure sector has become one of the major focus areas for the Indian government. In the Union Budget 2020-21, the Indian government announced US$13.1 billion for road and highway construction. In March 2021, the project to rebuild an important road stretch has been awarded in Spain. The package of works is worth €244 million (US$293.8 million) and is for a 70km section of the A4 highway. In May 2021, Brazil announced a major new highway deal. Improvements to the route are expected to total US$1.42 billion. It is estimated that new road projects will strengthen the road network in both urban and rural areas, which would fuel the demand for asphalt modifiers.
Increasing Demand of Asphalt Additives for Roofing Applications
Asphalt modifiers based on adhesion promoters, flux oil, crumb rubber, polyurethane resin, and phenolic resin are mainly used for waterproofing in roofing applications. It's also used in asphalt-saturated felts, roll roofing, and shingles as a saturate. Asphalt shingles are one of the least expensive roofing applications and are witnessing increased demand from the residential as well as commercial sector. In the UK government’s strategic plan 2018/19 – 2022/23, the government aims to deliver 300 homes, begin construction on 1,000 town center apartments, and launch phase three at Northstowe by 2022/23. By 2030, 40 hospitals will be constructed as part of a £3.7 billion (US44.7 billion) package, according to the European government. In addition, 20 hospitals will receive a share of £850 million (US$1.1 billion) to update obsolete facilities and equipment, with enabling work already underway at many sites. Increasing government investments for the construction and renovation of the residential and commercial sectors is expected to driving the demand for building materials. And as the market for building materials is increasing in various regions, the use of asphalt in these materials is expected to grow. As a result, demand for asphalt additives is expected to grow as these extend the life and longevity of asphalt in roofing applications.
Asphalt Modifiers Market Challenges
Over-Use of Asphalt Modifiers
Recent issues of over-use or misuse of some of these new chemistries have surprised the marketplace and produced many exciting and beneficial chemistries with caution and cynicism. Today, it is difficult for asphalt consumers needing assistance with chemical additives to select between distributor commitments and industry rumors of early road deficiencies that could be more due to the absence of discipline in the use of one or more of the multiple chemistries of modifiers. Thus, the use of asphalt modifiers, extensors, and diluents has greatly magnified the difficulty of designing a cost-effective and efficient formulation for a paving or roofing application, further compounding the complexities of handling changing asphalt consistency also pose a major problem for the asphalt modifiers industry.
Asphalt Modifiers Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Asphalt Modifiers Market. Major players in the Asphalt Modifiers Market are Arrmaz, Arkema SA, BASF Corporation, Honeywell International Inc., Huntsman Corporation, Kao Corporation, Ingevity Corporation, Kraton Corporation, Nouryon, Dupont De Nemours Inc., and Sasol Limited.
Acquisitions/Technology Launches
In February 2021, NEWTLAC 5000, a patented asphalt modifier made from recycled PET materials (waste PET), was developed by Kao Corporation. Although traditional asphalt modifiers increase pavement durability, NEWTLAC 5000's durability is many times greater, resulting in less microplastic output.
Key Takeaways
Asia-Pacific dominates the asphalt modifiers market, owing to the increasing road construction activities in APAC countries. For instance, road work worth Rs. 30000 crore (US$4.0 billion) is under construction in Bihar, India. A total of Rs. 4600 crore (US$621.8 million) has been set aside as reimbursement for land acquisitions.
During the forecast period, high traffic volume and heavier loads on roadways, deferred infrastructure maintenance, emphasis on meeting super-save design specifications, enhanced pavement work-life, and decreased MRO cost benefits are expected to drive market demand.
Future market opportunities are expected to include rising demand for HMA (Hot Mix Asphalt), the rising popularity of reclaimed asphalt pavement (RAP), production of bio-renewable modifiers, advancement of hot mix asphalt technologies, and research into using nanotechnology in asphalt modification (nano-clay).
To promote ride-sharing or car-pooling, highways will need to be gradually retrofitted or expanded with lanes for high-occupancy vehicles. The market for road and pavement construction is expected to be driven by this development, in turn, fueling the demand for asphalt modifiers.
The market growth is likely to be impeded by high initial costs for the use of modified asphalt cement and occupational health hazards concerning asphalt.
Related Reports
A.Specialty Concrete Market
https://www.industryarc.com/Report/18472/specialty-concrete-market-research-report-analysis.html
B.Concrete Fiber Market
https://www.industryarc.com/Report/15565/concrete-fiber-market.html
For more Chemicals and Materials Market reports, please click here
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Asphalt Additive Market by Type (Polymeric Modifiers, Anti-Strip & Adhesion Promoters, Emulsifiers, Chemical Modifiers, Rejuvenators, Fibers, Flux Oil, Colored Asphalt), Application, Technology and Region - Global Forecast to 2026 published on
https://www.sandlerresearch.org/asphalt-additive-market-by-type-polymeric-modifiers-anti-strip-adhesion-promoters-emulsifiers-chemical-modifiers-rejuvenators-fibers-flux-oil-colored-asphalt-application-technology-and-re.html
Asphalt Additive Market by Type (Polymeric Modifiers, Anti-Strip & Adhesion Promoters, Emulsifiers, Chemical Modifiers, Rejuvenators, Fibers, Flux Oil, Colored Asphalt), Application, Technology and Region - Global Forecast to 2026
“The asphalt additive market is projected to grow at a CAGR of 6.8 % from 2021 to 2026, in terms of value.”
The asphalt additive market is projected to grow from USD 3.4 billion in 2021 to USD 4.7 billion by 2026, at a CAGR of 6.8% from 2021 to 2026. Increase in road construction projects along with the growing usage of asphalt additives in roofing application are some of the major key factors driving the growth of the asphalt additive market across the globe.
“The rejuvenators segment is the fastest growing type segment, in terms of value during the forecast period”
Based on type, the rejuvenators segment is projected to grow at the highest CAGR. Increasing use of recycled materials, such as Reclaimed Asphalt Pavement (RAP) and Recycled Asphalt Shingles (RAS) in the asphalt pavements application, has resulted in the growing demand for rejuvenator asphalt additives to restore the strength and durability of aged binders. Rejuvenators are being widely used to improve properties, such as viscosity, of aging binders. The growth of this segment is due to the increased use of recycled road material for pavement application globally.
“The road construction & paving segment is projected to lead the asphalt additive market during the forecast period.”
Based on application, the road construction & paving segment accounted for the largest share, in terms of value, in 2021. Asphalt is required for the construction and maintenance of pavements. Asphalt pavements can be constructed quickly and are easier to maintain. This enhances the demand of asphalt additives in road construction & paving application during the forecast period.
“The Asia Pacific region is the largest growing regional segment.”
The Asia Pacific region is projected to lead the asphalt additive market from 2019 to 2029, in terms of value and volume. The increasing demand for asphalt additives products in developing economies, such as India and China, due to increasing infrastructure spending is expected to bolster market growth. China is the leading consumer of asphalt additives products in the Asia Pacific region. The considerable growth and innovation, along with industry consolidations, is expected to fuel the growth of the Asia Pacific asphalt additives market.
Profile break-up of primary participants for the report:
By Company Type: Tier 1 – 47.2%, Tier 2 – 30.7%, and Tier 3 – 22.1%
By Designation: C-level Executives – 42.1%, Managers – 39.6%, and Others– 18.3%
By Region: North America – 35%, Europe – 22%,Asia Pacific – 25%, South America – 8%, Middle East & Africa – 10%
Nouryon (Netherlands), DowDuPont (US), Arkema SA (France), Honeywell International Inc. (US), Evonik Industries (Germany), Huntsman Corporation (US), Kraton Corporation (US), Ingevity Corporation(US), and BASF SE (Germany)are some of the leading players in the asphalt additives market. These players have adopted product launches, collaborations, partnerships, expansions, acquisitions, agreements, joint ventures, and investments as the main strategies for enhancing their business revenues and market shares.
Research Coverage:
The report defines, segments, and projects the size of the asphalt additive market based on application, type, technology, and region. It strategically profiles the key players and comprehensively analyzes their market share and core competencies. It also tracks and analyzes competitive developments such as expansions, new product developments, acquisitions, and collaborations undertaken by them in the market.
The report defines, segments, and projects the asphalt additives market based on application, type, technology, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and challenges. It strategically profiles, asphalt additives market manufacturers and comprehensively analyzes their market shares and core competencies as well as tracks and analyzes competitive developments, such as product launches, collaborations, partnerships, expansions, acquisitions, agreements, joint ventures, and investments, undertaken by them in the market
Reasons to Buy the Report:
The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the asphalt additive market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
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Asphalt Polymeric Modifier Market 2021 Analysis, Opportunities, Developments, Market Size and Future Forecasts To 2026
Asphalt Polymeric Modifier Market 2021 Analysis, Opportunities, Developments, Market Size and Future Forecasts To 2026
MarketDesk Latest Research: The research study, titled “Asphalt Polymeric Modifier market 2021 Industry Research Report” offers a complete evaluation of this market, highlighting the growth boosters, obstructions, future prospects, and the changing competitive aspect of this market, notably. It exacts the most esteemed market trends, current and previous performance of this market in order to…
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Emulsion styrene butadiene rubber (E-SBR) is widely utilized in polymer modification of asphalt emulsions, which is used in the production of micro-surfacing fix formulation and hip seal. The stability in high temperature and flexibility in low-temperature exhibited by the polymers, which are modified using E-SBR is expected to drive the global emulsion styrene butadiene rubber market growth over the forecast period. The global emulsion styrene butadiene rubber market is estimated to reach US$ 8,380.3 million by the end of 2027, exhibiting a CAGR of 4.0%, in terms of value over the forecast period, owing to increasing demand for emulsion styrene butadiene rubber from various end-use industries such as automotive, construction, and others.

Top Keyplayers in this Market are as follows: Arlanxeo, China Petroleum & Chemical Corporation (SINOPEC), Indian Synthetic Rubber Ltd. (ISRL), JSR Corporation, Kumho Petrochemical Co., Ltd., LG Chem. Ltd., PetroChina Company Ltd., Reliance Industries Ltd., Sibur Petrochemical Company, Synthos, Taiwan Synthetic Rubber Corporation (TSRC), Trinseo, Versalis S.p.A. (Eni), and ZEON Corporation.
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The global emulsion styrene butadiene rubber market was valued at US$ 6,458.3 million in 2018, and is expected to exhibit a CAGR of 4.0%, in terms of revenue over the forecast period (2019-2027).
Geographies covered:
Latin America: Brazil, Argentina, Mexico, Rest of Latin America
North America: U.S., Canada
Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
Middle East: GCC, Israel, and Rest of Middle East
Africa: South Africa, North Africa, and Africa
Source: Coherent Market Insights, 2018
Among product type, cold E-SBR segment accounted for the largest market share, in terms of revenue in the global emulsion styrene butadiene market. Cold E-SBRs can be manufactured at about 5°C by free-radical emulsion polymerization of styrene and butadiene. Various advantages offered by Cold E-SBR is expected to drive demand for E-SBR over the forecast period. For instance, cold E-SBR have better resistance to abrasion, and also provides better tread wear, as compared to hot E-SBR. Apart from these properties, cold E-SBR exhibits superior mechanical properties such as tensile strength compared to grades manufactured by hot emulsion polymerization.
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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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Hydrocarbon Resins Market - Study On Applications 2025
Hydrocarbon resins are defined as glass-like oligomers, which are produced by polymerization of by-product streams such as aliphatic (C5), aromatic (C9), DCPD (dicyclopentadiene), which derives mostly from the cracking of petroleum hydrocarbons for the production of ethylene. These hydrocarbon resins can be later hydrogenated to improve color, odor, and stability as well as modifying compatibility. These are brittle or gummy materials prepared by the polymerization of several unsaturated constituents of coal tar, rosin, or petroleum. These are inexpensive and have wide applications such as in rubber and asphalt formulations and in coating and caulking compositions. Properties such as high thermal stability, light color, polymer compatibility, low odor, and excellent cold resistance also make them ideal for a wide range of end-use applications.
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Increasing usage of hydrocarbon resins in building and construction is a major driver augmenting the hydrocarbon resins market. Rising demand for hydrocarbon resins in printing inks, sealants, paints, specialty tapes, repositionable tapes, packaging tapes, and permanent labels is propelling the hydrocarbon resins market. Increasing demand for hydrocarbon resins in adhesives due to their properties such as good adhesion, improved adhesive bond strength, acid resistance, alkali resistance, and water resistance along with the increasing usage in book binding end-use industries are propelling the hydrocarbon resins market during the forecast period. Increasing regulations on a global level and constant changes as well as increasing shifts toward environment and sustainability trends throughout the value chain are some factors hampering the hydrocarbon resins market.
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The global hydrocarbon resins market is segmented based on type, applications, end-use industry, and geography.
Based on type, the global hydrocarbon resins market is segmented into C5 Petroleum resins, C9 Petroleum resins, C5/C9 petroleum resins, and hydrogenated hydrocarbon resins.
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In terms of applications, the global hydrocarbon resins market is segmented into adhesives and sealants, printing inks, rubber compounding, paints and coatings, tapes and labels, and others.
Based on end-use industry, the global hydrocarbon resins market is segregated into building & construction, personal hygiene, tires, automotive, and others.
In terms of geography, the global hydrocarbon resin market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East & Africa.
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In Asia Pacific countries such as China, India, and Japan are witnessing rapid expansion of the hydrocarbon resins market due to the increase in building and construction in the region. Additionally, rising demand for vehicles due to the increasing production of passenger cars, light commercial vehicles, and heavy commercial vehicles is boosting the hydrocarbon resins market in Asia Pacific nations. Europe follows Asia Pacific in terms of expansion of the hydrocarbon resin market due to the presence of major automotive companies in the region.
Key players operating in the global hydrocarbon resins market include Eastman Chemical Company, ExxonMobil Corporation, Shandong Landun Petroleum Resin Co., Ltd., Puyang Tiacheng Chemical Co., Ltd., and Shanghai Jinsen Hydrocarbon Resins Co., Limited.
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Asphalt Additive Market Shows Strong Growth with Leading Players | KRATON CORPORATION, Sasol
Asphalt Additive Market Asphalt is the thick black brown coloured substance made up of heavy hydrocarbons. It is derived from crude after application of refining processes. Additives are the constituents which are added in order to change the composition or properties of a substance. Asphalt additives consist of wide applications including improving the heat stability, increases elasticity, decreases viscosity and others. Moreover, factors such as adoption of asphalt additives for the development of infrastructure and reduction in damage caused by environment enhancing the asphalt additive market.
Market Drivers:
Government initiatives and funding for infrastructure projects in developed and developing countries is driving the market growth
Rising global construction industry is the major factor driving the growth of the market
Growing demand for asphalt additives for roofing applications is boosting the market growth
Market Restraints:
Concrete and bioasphalt are used as a substitute for asphalt which is hindering the market growth
Fluctuation in prices may act as a restraint to this market
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Some of the leading key players profiled in this study:
Few of the major competitors currently working in the global asphalt additive market are Nouryon, DowDuPont de Nemours Inc, Arkema, Honeywell International Inc, Evonik Industries, Huntsman International LLC, KRATON CORPORATION, Sasol, Ingevity, ArrMaz, BASF SE, KAO CORPORATION, Akzo Nobel N.V., Berkshire Engineering, Engineered Additives LLC, Royal Dutch Shell, Owens Corning and others.
Asphalt Additive Market Browse Related Report Here:
Metal Foam Market
Gas Mixture Market
Key Pointers Covered in the Asphalt Additive Market Trends and Forecast to 2026
• Asphalt Additive Market New Sales Volumes
• Asphalt Additive Market Replacement Sales Volumes
• Asphalt Additive Market Installed Base
• Asphalt Additive Market By Brands
• Asphalt Additive Market Size
• Asphalt Additive Market Procedure Volumes
• Asphalt Additive Market Product Price Analysis
• Asphalt Additive Market Healthcare Outcomes
• Asphalt Additive Market Cost of Care Analysis
• Asphalt Additive Market Regulatory Framework and Changes
• Asphalt Additive Market Prices and Reimbursement Analysis
• Asphalt Additive Market Shares in Different Regions
• Recent Developments for Asphalt Additive Market Competitors
• Asphalt Additive Market Upcoming Applications
• Asphalt Additive Market Innovators Study
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Scope of the Asphalt Additive Market
· Current and future of Asphalt Additive Market outlook in the developed and emerging markets
· The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
· Regions/Countries that are expected to witness the fastest growth rates during the forecast period
· The latest developments, market shares, and strategies that are employed by the major market players
Global Asphalt Additive Market By Type (Polymeric Modifiers, Anti-Strip & Adhesion Promoters, Emulsifiers, Rejuvenators, Chemical Modifiers , Fibers, Flux Oil, Colored Asphalt and Others), Applications (Road Construction & Paving, Roofing, Airport Construction and Others), Technology (Hot Mix, Cold Mix, Warm Mix), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
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